The global digital badges market is projected to have significant growth during the forecast period, as these badges are a powerful tool for identifying and validating skills, competencies, and knowledge of diverse people. Digital badges are finding their application in the education sector as these badges are applied to online learning platforms to assess and acknowledge the students’ progress, achievements, and learning. Furthermore, the integration of digital badges in online gaming platforms has assisted in indicating the skills and accomplishments of different users. Additionally, this technology is being widely used in the corporate world for the continuous appraisal of personnel knowledge and skills.
The global digital badges market is on the rise due to multiple factors, although a major factor contributing to this growth is the integration of block chain technology in this market. The blockchain technology along with digital badges technology assists in verifying official records such as professional certification and official credentials. Further, governments across the globe are promoting and supporting the use of open badges that has fueled the growth of this market. For instance, the US Department of Education has passed a policy permitting the academic institutions to adopt these technologies in their existing systems.
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Additionally, the demand for certified online education courses is on the rise that offers a huge potential for the growth of this market. Along with this, the increasing competition among individuals for greater accomplishment of certain skills has led to greater adoption of digital and social learning. However, the high cost of implementing this technology and lack of strong IT infrastructure in several countries is anticipated to hamper the growth of the global digital badges market.
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North America holds a significant share in this market due to the increasing demand for acquiring skills and knowledge among people. Additionally, collaborations among educational institutes and companies have led to the development of advanced technologies in this region. The current market trend of increasing focus on improving skills and providing training to employees will lead to greater adoption of smart e-Learning and the fastest growth rate of this market in the Asia-Pacific region.
The key players in the global digital badges industry including Accredible, Accreditrust Technologies, LLC, Concentric Sky, Inc., and Nocti Business Solutions among others. The companies adopt different strategies to stay competitive in the market that include merger and acquisition, innovations, geographical expansion, and partnerships and collaborations. Moreover, these companies design and develop advanced features in digital badges to expand their individual market share. For instance, in July 2018, Credly, Inc. announced the acquisition of Pearson Education’s digital badging business to create a solution that will be suitable for fulfilling the increasing demand for digital talent recognition and credentialing.
Global Digital Badges Market – Segmentation
By Offering
- Platform
- Services
By End-User
- Academic
- Corporate
Global Digital Badges Market – Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Accredible
- Accreditrust Technologies, LLC
- Badgecraft UAB
- Basno, Inc.
- Canva, Pty Ltd
- Concentric Sky, Inc.
- Credly, Inc.
- Discendum Oy
- EbizON
- Forall Systems, Inc.
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